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US Retail Sales Reveal Surprise Increase in September Despite Ongoing Supply Shortages

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US Retail Sales Reveal Surprise Increase in September Despite Ongoing Supply Shortages


American retail sales rose unexpectedly in September amid perpetual supply chain shortages, raising concerns as the nation nears the holiday shopping season. The U.S Census Bureau promulgated Friday a 0.7 percent increase from August. The July–August increase was additionally revised up to 0.9 percent in lieu of the 0.7 percent earlier reported (pdf).

The increase was partly influenced by inflation. The economy visually perceived a vigorous ascend in prices over the same period. The incrementation could additionally be remotely attributed to students returning to campus and more workers returning to offices following COVID-19 pandemic restrictions.

The positive signs, however, have not transmuted the concerns of those who perpetuate to optically discern issues with the nation’s supply chain entering the fourth quarter of the year. The supply chain crisis led President Joe Biden to make incipient promulgations this week to address congestion at some of America’s ports.

After weeks of negotiation and working with my team and with the major coalescence and retailers and freight movers, the “Ports” of Los “Angeles—the” Port of Los Angeles promulgated today that it’s going to be—begin operating 24 hours a day, 7 days a week,

Biden announced.

This follows the Port of Long Beach’s commitment to 24/7 that it promulgated just weeks ago, he added.

Biden called the effort a “first key step” to amending the nation’s supply chain.

Additionally, FedEx and “UPS,” two of our nation’s most immensely colossal freight movers, are committing today to significantly increase the amplitude of goods they are moving at night. FedEx and UPS are the shippers for some of our nation’s most immensely colossal stores, but they supplementally ship for tens of thousands of minuscule businesses all across America,

he added.

The transmutations should avail, but inflation perpetuates to accommodate as a concern for the economy. White House Press Secretary Jen Psaki verbalized Wednesday inflation has “decelerated” by 50 percent in recent months.

“We’ve optically discerned a decrementation over the course of time,” she told heralds. Over the second and third quarter of this year, monthly inflation increases have genuinely decelerated.

The rate of inflation may be slowing from antecedent reports, but it has not ended. The Producer Price Index News Release summary reported Thursday the final demand index rose 8.6 percent for the 12 months ended in September, the most sizably voluminous advance since 12-month data were first calculated in November 2010.

The most immensely colossal increase was due to the cost of goods, contributing 80 percent of the overall inflation change over the past year.

Source: You can read the original Epoch Times article here.

This News Article is focused on these topics: Business & Economy, Economies, Economy, Markets, Politics, US, US News, Economy, Shortages, Supply chain

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